This not only requires learning the tool or process, but truly understanding the principles behind it. Practice comprehension calls for hard work far beyond making road trips or sending a few people for training. For example, some years ago GEs senior team visited WalMart to learn about its quick market intelligence approach. Marketing intelligence Market intelligence is a term that is widely used, widely misunderstood, and often mistaken for a mysterious art requiring highlevel detective work.
Before providing advice on how market intelligence can potentially benefit your business, it is therefore essential that we begin this paper by agreeing on a definition. Unit 17: Market Intelligence Unit level: Unit level: 1 H1 Unit code: P Description of unit The aim of this unit is to enable students to learn about different types of information needed for planning and monitoring in a competitive environment.
According to Quirks Marketing Research Review, market intelligence is an ongoing, holistic knowledge of all aspects of the marketplace. Market intelligence provides a highlevel view by analyzing many different business areas including competitors, products, market dynamics, and customer insights. marketing intelligence Essays: Over 180, 000 marketing intelligence Essays, marketing intelligence Term Papers, marketing intelligence Research Paper, Book Reports.
184 990 ESSAYS, term and research papers available for UNLIMITED access Read this essay on Market Intelligence and Marketing Research. Come browse our large digital warehouse of free sample essays. Get the knowledge you need in order to pass your classes and more. Only at What is Market Intelligence? Share This Story Market intelligence is the gathering and analyzing of information relevant to a companys external environment, and is often part of the companys strategic planning function.
Marketing intelligence is the information with the help of which a firm can perform assessments of the opportunities of the market entry and formulate development plans accordingly (Trim, 2004). The present report analyzes the concept of marketing intelligence thereby considering all the important aspects relevant to it. Once this information is processed, businesses can use it to make important decisions, including determining market opportunity and creating market development metrics.
Market intelligence tools. Keeping track of all the information included in market intelligence can quickly become timeconsuming for small companies. Intelligence Simply put, intelligence is the ability to acquire and apply knowledge and skills. According to Stella Cottrell (2003), there are nine views of intelligence namely: 1. Intelligence is a general, underlying cleverness which is fixed for life.